Novax acquired 55% of the shares in fitness chain STC.

STC, a Kungälv, Sweden-based company operating a chain of fitness centers in the Western part of Sweden, announced getting into an investment deal with Novax.

The transaction, which has financial details undisclosed, involves that Novax Gym Holding gets 55% of the shares in the company, which after the transaction is owned jointly with the CEO and co-founder Katarina Andersson.

STC, founded in 1997, is is one of Sweden's leading healthcare companies with over 50 training facilities, covering regions such as Värmland, Skaraborg, Trestad, Bohuslän, Kungälv, Ale, Göteborg and Eslöv. The company has about 900 employees and had a turnover of about SEK 220M in 2018.